From CNBC: 2025-05-01 09:11:00

Eli Lilly CEO Dave Ricks addresses national security concerns amid potential pharmaceutical tariffs. The Trump administration is investigating the impact of drug imports on national security, with tariffs looming. Ricks acknowledges the importance of essential generic drugs, emphasizing their critical role. However, he questions whether tariffs are the best solution, citing potential negative consequences.

Ricks highlights the importance of essential generic drugs, noting their critical role in healthcare. He acknowledges challenges in manufacturing these drugs domestically due to cost factors. Health experts warn that tariffs on generic drugs could lead to shortages. Eli Lilly is investing in new production sites in the U.S. in response to tariff threats.

Ricks believes that industry efforts to reshore manufacturing may eliminate the need for tariffs. He emphasizes the importance of permanent lower tax rates to encourage domestic production. Other pharmaceutical CEOs, like Pfizer’s Albert Bourla, express concerns about tariff uncertainty affecting investments in the U.S. manufacturing sector.



Read more at CNBC: Eli Lilly CEO David Ricks discusses Trump pharmaceutical tariffs